Marcus & Millichap closed the sale of Motel 6, a 72-room hotel property in Indianapolis. The asset sold for $2.5 million.
Ebrahim Valliani, first vice president; Michael Klar, associate; Chris Gomes, senior managing director; Allan Miller, senior vice president; and Robert Marro, senior associate, and investment specialists in Marcus & Millichap’s Chicago Oak Brook, Dallas and Austin offices, had the exclusive listing to market the property on behalf of the seller, a Texas-based private investor.
The buyer, a limited liability company, was secured and represented by Alexandre Duong, senior vice president, and Alex Fifner, associate, and investment specialists in Marcus & Millichap’s Cleveland office. Josh Caruana, Indiana Broker of Record, assisted in closing this transaction.
Motel 6 Indianapolis is located at 4585 S. Harding St. in Indianapolis, 10 miles from Indianapolis International Airport. The property was recently renovated per G6 Hospitality standards, and previous absentee ownership provides an operational upside for the buyer.